How is brand awareness defined?

Brand awareness is defined as how well a brand is recognized by potential customers. This concept focuses on the extent to which consumers are familiar with a brand, including its name, logo, and associated products or services. High brand awareness typically leads to increased customer trust and can enhance the likelihood of purchase, as consumers are more inclined to choose brands they recognize. This recognition is crucial for building a brand's presence in the market and can be achieved through various marketing strategies such as advertising, social media engagement, and promotional campaigns.

In contrast, the other options revolve around different aspects of consumer behavior and market analysis rather than directly addressing brand awareness itself. Preferences (liking one brand over another) and purchase willingness are more subjective measures that indicate consumer attitudes and intentions, while comparing a brand's performance against its competitors pertains to market positioning and competitive analysis rather than the recognition aspect that defines brand awareness.